RED MOUNTAIN MINING LIMITED - Capital/Financing Update 2014

ASX ANNOUNCEMENT RED MOUNTAIN MINING LTD (ASX:RMX)

17 September 2014

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RED MOUNTAIN INTERSECTS 12 METRE BRECCIA LODE AT CAMO

Northern step out drilling intersects 12 metres down hole of sulphidic hydrothermal breccia lode
Lode/breccia structure thickening at depth, northeast down plunge of outcrop – results to come
Early drill results from shallow holes confirm high silver grades near surface

Perth, Western Australia: Red Mountain Mining Limited has intersected a 12 metre downhole thickness of strongly mineralised siliceous and sulphidic breccia lode in the deeper of two diamond drillholes testing northern, down plunge extensions of the Camo lode target. Camo is located on the Company’s Lobo Prospect, Batangas Gold Project, 120 kilometres south of Manila in the Philippines.

Drilling has made very good progress with 5 holes completed for 296m. Drillhole LB119 intersected 5.25 metres (m) from 27.3m down hole of silicified breccia lode with angular clasts of banded silica, “grey” sulphidic quartz and sulphide patches/veinlets. The 5.25m intersection approximates true width. Drillhole LB120 , drilled 40m below LB119, intersected 12.0m from 63.3m down hole of silicified and sulphidic hydrothermal breccia lode , again with banded silica, grey sulphidic quartz and later sulphide veinlets – predominantly pyrite, with chalcopyrite, sphalerite and galena. True width is estimated to be ~8m to 10m. Drillcore will be sampled and submitted for laboratory assay shortly.

The lode intersections in LB119 and LB120 are on a cross section 25m along strike to the northeast from previous drilling including LB51: that intersected 5.5m from 25.8m down hole @ 487 g/t Ag, 0.17 g/t Au and 1.83% Cu, or 9.7 g/t Au equivalent[1] (released pre 2012).

Results from the first two drillholes of the current program, including LB116, drilled close to surface above LB51 and LB117, drilled 25m to the northeast of Trench C1-14 (4m @ 379 g/t Ag, 2.0 g/t Au, 0.62% Cu or 7.16 g/t Au equivalent[1 ] - released 25 August 2014) have confirmed the high-silver grades near surface at Camo, intersecting in LB116: 1.65m from 17.10m downhole @ 61.2 g/t Ag, 0.14% Cu and in LB117: 2.35m from 19.10m @ 45.4 g/t Ag, 0.15 % Cu including 1.0m from 19.60m downhole @ 83.2 g/t Ag, 0.32% Cu . LB 118 , drilled below LB117, intersected 1.4m from 38.2m down hole of strongly mineralised quartz-barite-sulphide (patches of enargite and disseminated pyrite-chalcopyrite) lode/vein, with results to come. Results for LB116 and LB117 are tabulated below with details of all holes completed to date.

Red Mountain Mining Managing Director Mr Jon Dugdale said, “The intersection of thick, strongly mineralised hydrothermal breccia lode in the two step out holes at Camo confirms the model for a northeasterly plunging zone of mineralisation, thickening at depth.”

“The mineralisation is changing down plunge from a near surface quartz-barite-enargite lode, with high silvercopper grades, to a hydrothermal breccia lode with sulphides such as pyrite, galena, chalcopyrite and sphalerite, that looks more like the high gold grade South West Breccia lode, so we are looking forward to the results.”

“Drilling will continue to test the hydrothermal breccia lode down plunge with the objective of defining a new zone of gold mineralisation.”

ASX code: RMX COMPANY DIRECTORS ABN 40 119568106 Neil Warburton Non-Executive Chairman Jon Dugdale Managing Director

CONTACT DETAILS Michael Wolley RED MOUNTAIN MINING LTD Non-Executive Director Head Office Shannon Coates Unit 1, 2 Richardson Street Company Secretary West Perth Western Australia 6005 www.redmm.com.au [email protected]

1Note: The gold equivalence calculation represents total metal value for each metal summed and expressed in equivalent gold grade in grams per tonne (g/t). The prices used in the calculation being A$1400/oz Au, A$21.50/oz Ag and A$3.20/lb Cu. Metallurgical recovery to concentrate of 90.0% for gold, 92.0% for silver and 92.0% for copper as indicated by publically available metallurgical testwork on an identical epithermal ore assemblage at Mt Carlton in Queensland, Australia.

Calculation Au Eq = ((((Grade Au g/t / 31.1035) x Price Au per Oz x Au Recovery) + ((Grade Ag g/t / 31.1035) x Price Ag per Oz x Ag recovery) + ((Grade Cu %/100) x (Price Cu per lb x 2204.6) x (Cu Recovery))) / (Price Au per Oz))) x 31.1035. It is the Company’s opinion that all the elements included in the metal equivalents calculation have a reasonable potential to be recovered and sold.

Drilling results received to date, and other drillhole details are summarised in Table 1 below:	Drilling results received to date, and other drillhole details are summarised in Table 1 below:	Drilling results received to date, and other drillhole details are summarised in Table 1 below:	Drilling results received to date, and other drillhole details are summarised in Table 1 below:	Drilling results received to date, and other drillhole details are summarised in Table 1 below:	Drilling results received to date, and other drillhole details are summarised in Table 1 below:	Drilling results received to date, and other drillhole details are summarised in Table 1 below:	Drilling results received to date, and other drillhole details are summarised in Table 1 below:	Drilling results received to date, and other drillhole details are summarised in Table 1 below:	Drilling results received to date, and other drillhole details are summarised in Table 1 below:	Drilling results received to date, and other drillhole details are summarised in Table 1 below:	Drilling results received to date, and other drillhole details are summarised in Table 1 below:
HOLE_ID	North Grid	East Grid	Dip	Azi Mag	Depth m	From_m	To_m	Run_m	Ag g/t	Au g/t	Cu %
LB 116	11040	9986	-45°	145°	30.05	17.10	18.75	1.65	61.2	0.03	0.14
LB 117	11021	9994	-50°	143°	60.00	19.10	21.45	2.35	45.4	0.07	0.15
		Including				19.60	20.60	1.00	83.2	0.10	0.32
LB 118	11021	9994	-75°	145°	61.15	38.2	39.6	1.40	Lode, resultspending
LB 119	11065	9974	-45°	145°	54.90	27.3	32.55	5.25	Lode, resultspending
LB 120	11065	9974	-65°	145°	89.90	63.3	75.3	12.0	Lode, resultspending
5 holes					296m

Figure 1 shows drillhole locations in plan, and Figure 2 shows drilling pierce points in longitudinal projection.

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Figure 1: Plan of Camo lode with rockchip sample results and drillhole locations

COMPANY DIRECTORS CONTACT DETAILS Neil Warburton Michael Wolley RED MOUNTAIN MINING LTD Non-Executive Chairman Non-Executive Director Head Office Jon Dugdale Shannon Coates Unit 1, 2 Richardson Street Managing Director Company Secretary West Perth Western Australia 6005 www.redmm.com.au [email protected]

ASX code: RMX ABN 40 119568106

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Figure 2: Camo Longitudinal Projection, with drilling pierce points and rockchip results

About the Camo Target:

The Camo target is located approximately 1.2 kilometres along strike northeast of the high grade SWB resource, and is associated with an identical flexure or bend in the structure to SWB (see plan, Figure 3). Camo is also at a 100 metre higher elevation than SWB, and characterised by high silver and copper grades in layered quartzbarite-enargite (Cu-As sulphide) epithermal lode material, indicative of the siliceous cap or sinter zone formed within the upper levels of an epithermal system.

High grade gold generally occurs below the silver rich siliceous sinter, within the “boiling zone” of the epithermal system. This is interpreted to have been eroded at SWB but may lie at shallow depth at Camo (see longitudinal projection Figure 4). This interpretation is backed up by the observation that at West Drift, 1 kilometre north of Camo, a gold resource (released 30 June 2014) is located less than 100 metres below the previously mined silvercopper rich siliceous zone.

The Camo lode therefore represents a significant target to define a near surface silver-copper and gold resource, with potential for a high grade gold zone at depth.

ASX code: RMX COMPANY DIRECTORS ABN 40 119568106 Neil Warburton Non-Executive Chairman Jon Dugdale Managing Director

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Figure 3: Plan of SWB and Camo lodes, Lobo epithermal gold prospect, Batangas project

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Figure 4: Longitudinal projection of South West Breccia and Camo structures

ASX code: RMX COMPANY DIRECTORS CONTACT DETAILS ABN 40 119568106 Neil Warburton Michael Wolley RED MOUNTAIN MINING LTD Non-Executive Chairman Non-Executive Director Head Office Jon Dugdale Shannon Coates Unit 1, 2 Richardson Street Managing Director Company Secretary West Perth Western Australia 6005 www.redmm.com.au [email protected]

About the Lobo Prospect

Surface trench channel sampling and drilling conducted by Red Mountain has intersected high-grade epithermal gold mineralisation in five areas on the Lobo Mineral Production Sharing Agreement (“MPSA” – Philippines equivalent to a Mining Lease), namely SWB, Pica, Japanese Tunnel, West Drift and Ulupong.

Mineral Resources totaling 604,000t @ 4.2 g/t Au for 82,000 ounces of gold have been defined in three areas at Lobo, including SWB with a total 98% Indicated and 2% Inferred Resource of 221,000t @ 6.3 g/t Au, Japanese Tunnel with a total Indicated and Inferred Resource of 34,000t @ 3.0 g/t Au and West Drift with a total Indicated and Inferred Resource of 350,000t @ 3.0 g/t Au (ASX release 30 June 2014, JORC 2012).

The Company is focussed on increasing high grade resources through discovery of new, high grade, gold zones at Lobo. Five priority targets have been identified on the Lobo prospect area, for high grade gold as well as silvergold-copper mineralisation at the top of the preserved epithermal systems (see Figure 5).

Sampling of the new target areas continues, with the objective of defining multiple targets for a drilling program that is in progress.

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Figure 5: Plan of Lobo epithermal gold prospect with resources and high priority targets

COMPANY DIRECTORS Neil Warburton Non-Executive Chairman Jon Dugdale Managing Director

ASX code: RMX ABN 40 119568106

_______________________ For further information about Red Mountain please visit www.redmm.com.au or contact:

Company Investors Media
Jon Dugdale Matt Birney
Managing Director Birney Corporate
(+61) 402 298 026 (+61) 419 217 090
(+61) 8 9226 5668 (+61)8 9226 5668
E: [email protected] E: [email protected]

About Red Mountain Mining Limited and the Batangas Gold Project

Red Mountain Mining (ASX: RMX) is primarily a gold explorer/developer and project acquisition company which listed on the ASX in September 2011. The Company’s strategy is to unlock the potential of ‘under-developed’ gold and polymetallic projects in the greater Asian region by introducing Australian exploration and mining methods and improving efficiencies to gain significant exploration and production upside.

The Company holds a 100% direct and indirect contractual right interest in tenements in the Philippines that contain significant gold resources. Total Mineral Resources at Batangas include Indicated Resources of 2.97 million tonnes @ 2.4 g/t Au, 227,000 oz Au and Inferred Resources of 3.22 million tonnes @ 2.1 g/t Au, 218,000oz Au for a total of 6.19 million tonnes at 2.2 g/t Au, 444,000oz Au (ASX announcement 30 June 2014, JORC 2012). The Company is continuing exploration with the objectives of upgrading Mineral Resources at Batangas.

A Scoping Study (ASX announcement 20 March 2014) has demonstrated a strongly viable, low capital and operating cost, gold development based on initially recovering 90,000oz of gold over 4.5 years. The Company is completing a Definitive Feasibility Study (DFS) on the project, with early indications of an extension to mine life to 5.5 years recovering 100,000oz of gold (ASX release 10 September 2014), and final mine development permitting submissions have been lodged with the Philippines Government (ASX release 3 April 2014) and are proceeding towards approval.

Other gold opportunities will be reviewed on a continuous basis.

Cautionary Statement

The Scoping Study referred to in this announcement is based on lower-level technical and economic assessments, and is insufficient to support estimation of Ore Reserves or to provide assurance of an economic development case at this stage, or to provide certainty that the conclusions of the Scoping Study will be realised. There is a low level of geological confidence associated with inferred mineral resources (that represent 10% of the mining inventory in the Scoping Study) and there is no certainly that further exploration work will result in the determination of indicated Mineral Resources or that the production target itself will be realised. There is no certainty that the Scoping Study production targets or the forecast financial information derived from production targets, will be realised. All material assumptions underpinning the production targets and forecast financial information derived from the production targets, full details of which were released to ASX on 20 March 2014, continue to apply and have not materially changed.

ASX code: RMX COMPANY DIRECTORS ABN 40 119568106 Neil Warburton Non-Executive Chairman Jon Dugdale Managing Director

CONTACT DETAILS RED MOUNTAIN MINING LTD Head Office Unit 1, 2 Richardson Street West Perth Western Australia 6005 www.redmm.com.au [email protected]

Michael Wolley Non-Executive Director Shannon Coates Company Secretary

Competent Person Statement

The information in this report relating to Mineral Resources and post 1 December 2013 Exploration Results is based on information compiled by Mr Jon Dugdale who is a Fellow of the Australasian Institute of Mining and Metallurgy and has sufficient exploration experience which is relevant to the various styles of mineralisation under consideration to qualify as a Competent Person as defined in 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Dugdale is a full time employee and Managing Director of Red Mountain Mining Ltd. Mr Dugdale takes responsibility and consents to the inclusion in the report of the new Exploration Results in the form and context in which it appears. The Company confirms that the form and context in which previously released Mineral Resources and Exploration Results are presented has not been materially modified and it is not aware of any new information or data that materially affects the information included in the relevant market announcements, as detailed in the body of this announcement. All material assumptions and technical parameters underpinning the Mineral Resource estimates continue to apply and have not materially changed.

The information in this report relating to pre December 2013 Exploration Results is based on information compiled by Mr Jon Dugdale who is a Fellow of the Australasian Institute of Mining and Metallurgy and has sufficient exploration experience which is relevant to the various styles of mineralisation under consideration to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Dugdale is a full time employee and Managing Director of Red Mountain Mining Ltd. Mr Dugdale takes responsibility and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements

This announcement contains certain forward looking statements. These forward-looking statements are not historical facts but rather are based on Red Mountain Mining’s current expectations, estimates and projections about the industry in which Red Mountain Mining operates, and beliefs and assumptions regarding Red Mountain Mining’s future performance. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates” “potential” and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of Red Mountain Mining, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. Red Mountain Mining cautions shareholders and prospective shareholders not to place undue reliance on these forwardlooking statements, which reflect the view of Red Mountain Mining only as of the date of this presentation. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Red Mountain Mining will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this presentation except as required by law or by any appropriate regulatory authority.

ASX code: RMX ABN 40 119568106

COMPANY DIRECTORS Neil Warburton Michael Wolley Non-Executive Chairman Non-Executive Director Jon Dugdale Shannon Coates Managing Director Company Secretary

CONTACT DETAILS RED MOUNTAIN MINING LTD Head Office Unit 1, 2 Richardson Street West Perth Western Australia 6005 www.redmm.com.au [email protected]

APPENDIX 1: SAMPLING TECHNIQUES AND DATA

Criteria	JORC Code explanation	Commentary
*Sampling techniques*	 Nature and quality of sampling	 Trenches (Costeans) through colluvial
	and Assaying	cover excavated to bedrock have been
	 Measures taken to ensure	sampled at the base of the trench in
	sample representivity and the	continuous cut channels with samples
	appropriate calibration of any	aggregated over measured 0.5m to 1.0m
	measurement tools or systems	intervals.
	used.	 Trenching samples obtained from cut
		channels at 0.5m to 1.0m intervals weighing
		less than 3kg were transported to Intertek
		Laboratories in Manila, the Philippines, for
	 Aspects of the determination of	fire assay.
	mineralisation that are	 At least 2kg sample was pulverised and a
	Material to the Public Report.	50 gram charge fire assayed with AAS finish
		for Gold (Au) and a range of 37 elements via
		Multiple determination by ICP-OES
		(following four acid digest
		(HCl/HNO3/HClO4/HF) with volumetric
		finish) assay including Silver (Ag), Copper
		(Cu),Lead(Pb)and Zinc(Zn).
*Drilling techniques*	 Drill type and details	 Diamond core drilling, Triple tube, HQ core
		size
*Drill sample recovery*	 Method of recording and assessing	 Core sample recoveries routinely measured
	core and chip sample recoveries and	and recorded in spreadsheet database
	results assessed.
	 Measures taken to maximise sample	 Triple tube drilling maximising core
	recovery and ensure representative	recovery. Samples split half core
	nature of the samples.	perpendicular to strike of structures
	 Whether a relationship exists	 Recovery maximised (100%). No bias
	between sample recovery and grade	generated.
	and whether sample bias may have
	occurred due to preferential
	loss/gain of fine/coarse material.
*Logging*	 Whether core and chip samples have	 Logging of geology, alteration and
	been geologically and geotechnically	geotechnical aspects have been recorded in
	logged to a level of detail to support	drilling logs for diamond core drilling.
	appropriate Mineral Resource
	estimation, mining studies and
	metallurgical studies.
	 Whether logging is qualitative or	 Logging is qualitative. All drill core
	quantitative in nature. Core (or	photographed.
	costean, channel, etc) photography.
	 The total length and percentage of	 The entire interval drilled / trenched has
	the relevant intersections logged.	been logged.
*Sub-sampling*	 If core, whether cut or sawn and	 Half core taken, sawn.
*techniques and*	whether quarter, half or all core
*sample preparation*	taken.
	 If non-core, whether riffled, tube	 Non core Trench(Costean)channel samples

ASX code: RMX ABN 40 119568106

Criteria	JORC Code explanation	Commentary
	sampled, rotary split, etc and	entire sample aggregated, not riffled or
	whether sampled wet or dry.	split.
	 For all sample types, the nature,	 Aggregated half core . Entire ~2kg sample
	quality and appropriateness of the	pulverised at Laboratory prior to fire assay.
	sample preparation technique.	This is an appropriate sample preparation
	 Quality control procedures adopted	technique that minimises bias.
	for all sub-sampling stages to	 Drilling and Channel sampling orthogonal
	maximise representivity of samples.	to dip and strike of the lode provides
	 Measures taken to ensure that the	continuous sample with even weights that
	sampling is representative of the in	maximises representivity.
	situ material collected, including for	 Field duplicates regularly sampled.
	instance results for field	 Sample sizes at >2kg are well in excess of
	duplicate/second-half sampling.	requirements appropriate to the grain size
	 Whether sample sizes are	of gold that has been shown by
	appropriate to the grain size of the	mineragraphy to be generally less than 50
	material being sampled.	micron.
*Quality of assay data*	 The nature, quality and	 Fire assay is appropriate for the nature of
*and laboratory tests*	appropriateness of the assaying and	the gold mineralisation being assayed.
	laboratory procedures used and
	whether the technique is considered
	partial or total.
	 For geophysical tools,	 No geophysical tools used in generating
	spectrometers, handheld XRF	exploration results.
	instruments, etc, the parameters
	used in determining the analysis
	including instrument make and
	model, reading times, calibrations
	factors applied and their derivation,
	etc.
	 Nature of quality control procedures	 Registered standards have been inserted
	adopted (eg standards, blanks,	every 20 samples.
	duplicates, external laboratory	 Levels of accuracy and precision (detection
	checks) and whether acceptable	limit) for gold is + or minus 0.005 ppm gold,
	levels of accuracy (ie lack of bias)	which is well in excess of the precision
	and precision have been established.	required for the level of assays reported.
*Verification of*	 The verification of significant	 Significant intersections reported by field
*sampling and*	intersections by either independent	personnel, verified by competent person.
*assaying*	or alternative company personnel.
	 The use of twinned holes.	 No twinning of drillholes at this stage.
	 Documentation of primary data,	 Primary data logged on paper then data
	data entry procedures, data	entry into database, verified by Chief
	verification, data storage (physical	Geologist and stored in electronic database,
	and electronic) protocols.	regularly backed up. output in spreadsheet
		form. Data is verified and compared with
		standard assays using established company
		protocols.
	 Discuss any adjustment to assay	 No adjustments have been made to assay

ASX code: RMX ABN 40 119568106

Criteria	JORC Code explanation	Commentary
	data.	data.
*Location of data*	 Accuracy and quality of surveys used	 Drillholes and Trenches (Costeans)
*points*	to locate drill holes (collar and	accurately surveyed using Nikon Total
	down-hole surveys), trenches, mine	Station DTM-332 survey equipment.
	workings and other locations used
	in Mineral Resource estimation.	 Drillhole and Trench (Costean) locations
	 Specification of the grid system used.	surveyed in UTM WGS84 51N grid,
		converted to local Lobo grid.
	 Quality and adequacy of	 Topographic surveys were done using the
	topographic control.	Total Station. Control stations were set by
		an independent surveyor (McDonald
		Consultant, Inc.) using 2 DGPS (one as a
		base station for correcting diurnal
		variations) and a total station for where
		they could not survey with GPS under thick
		cover. These were tied to known
		government control stations.
*Data spacing and*	 Data spacing for reporting of	 Drilling assayed on no more than 1m
*distribution*	Exploration Results.	intervals down hole. Drilling testing
	 Whether the data spacing and	Trenches (Costeans) excavated every 10m
	distribution is sufficient to establish	along the strike of identified mineralisation.
	the degree of geological and grade	Data spacing sufficient to establish the
	continuity appropriate for the	degree of geological and grade continuity
	Mineral Resource and Ore Reserve	appropriate for the Mineral Resource and
	estimation procedure(s) and	Ore Reserve estimation procedure(s)
	classifications applied.
	 Whether sample compositing has	 Samples have not been composited.
	been applied.
*Orientation of data in*	 Whether the orientation of sampling	 Drilling and Trenching (Costeans)
*relation to geological*	achieves unbiased sampling of	established orthogonal to the interpreted
*structure*	possible structures and the extent to	strike and dip of the mapped mineralised
	which this is known, considering the	structures.
	deposit type.
	 If the relationship between the	 No sampling bias interpreted.
	drilling orientation and the
	orientation of key mineralised
	structures is considered to have
	introduced a sampling bias, this
	should be assessed and reported if
	material.
*Sample security*	 The measures taken to ensure	 Samples secured by senior personnel on
	sample security.	site and transported directly by company
		vehicle to Intertek Laboratories, Manila, the
		Philippines.
*Audits/Reviews*	 The results of any audits or reviews	 Internal reviews regularly completed but
	of sampling techniques and data.	no external audits carried out to date.

APPENDIX 2: REPORTING OF EXPLORATION RESULTS

Criteria	JORC Code explanation	Commentary
*Mineral tenement and*	 Type, reference name/number,	 The Batangas Gold Project comprises 2
*land tenure status*	location and ownership	Mineral Production Sharing Agreements
	including agreements or	(MPSA’s), 8 Exploration Permits (EP’s) and
	material issues with third	four Exploration Permit Applications
	parties such as joint ventures,	(EPA’s).
	partnerships, overriding	 Red Mountain Mining Ltd has a 100%
	royalties, native title interests,	interest in Philippines subsidiary MRL Gold
	historical sites, wilderness or	Inc. which in turn has a 100% direct and
	national park and	contractual right interest in the Batangas
	environmental settings.	gold Project tenements.
		 The Lobo and Archangel MPSA’s contain all
	 The security of the tenure held	identified (JORC 2004) resources.
	at the time of reporting along	Declaration of Mining Feasibility and
	with any known impediments to	Environmental Compliance Certificate will
	obtaining a licence to operate in	be required to be approved by the
	the area.	Philippines Mines and Geosciences Bureau
		of the Department of Energy and Natural
		Resources of the Philippines Government
		before the company has a licence to
		operate.
*Exploration done by*	 Acknowledgment and appraisal	 Previous exploration was conducted by
*other parties*	of exploration by other parties.	Mindoro Resources Ltd including extensive
		drilling, surface geochemistry, geophysics,
		mapping and mineral resource estimation
		toJORC 2004 and NI 43-101 standards.
*Geology*	 Deposit type, geological setting	 The gold mineralisation that is the target of
	and style of mineralisation.	the exploration program is porphyry
		related epithermal gold mineralisation
		hosted by intermediate to felsic volcanic
		rocks and intrusions.
		 Two styles of intermediate sulphidation
		epithermal gold mineralisation identified –
		i) andesite hosted stockwork mineralisation
		at e.g. Archangel MPSA and Quartz-Barite-
		Sulphide vein/lode style mineralisation at
		e.g. the Lobo MPSA.
*Drill hole Information*	 A summary of all information	 See Table 1, Drillhole/Trenching/Sampling
	material to the understanding of	locations, RL, dip and azimuth, length.
	the exploration results including	 Also significant intersections, from, to,
	a tabulation of the following	interval, grade for relevant economic
	information for all Material drill	targets gold (Au), Silver (Ag) and copper
	holes:	(Cu).
	`o` easting and northing of the
	drill hole collar
	`o` elevation or RL (Reduced
	Level – elevation above sea
	level in metres) of the drill
	hole collar

ASX code: RMX ABN 40 119568106

Criteria	JORC Code explanation	Commentary
	`o` dip and azimuth of the hole
	`o` down hole length and
	interception depth
	`o` hole length.
*Data aggregation*	 In reporting Exploration Results,	 Exploration results from drilling and trench
*methods*	weighting averaging techniques,	(Costean) sampling have been weighted by
	maximum and/or minimum	interval.
	grade truncations (eg cutting of	 No high-grade cuts have been applied as
	high grades) and cut-off grades	maximum grade (12 g/t Au) is less than
	are usually Material and should	five times the approximate mean grade.
	be stated.
	 Where aggregate intercepts	 Lower cut-off grade of 1 g/t Au has
	incorporate short lengths of	generally been applied to significant
	high grade results and longer	intersections.
	lengths of low grade results, the
	procedure used for such	 Aggregate drilling and trenching intercepts
	aggregation should be stated	do not incorporate longer lengths of low
	and some typical examples of	grade results.
	such aggregations should be
	shown in detail.
	 The assumptions used for any	 No metal equivalent reported.
	reporting of metal equivalent
	values should be clearly stated.
*Relationship between*	 These relationships are	 Drilling and trenches (Costeans) have been
*mineralisation widths*	particularly important in the	drilled/excavated and sampled as close to
*and intercept lengths*	reporting of Exploration Results.	orthogonal to the strike and dip of the lode
	 If the geometry of the	structures as possible and, as such, the
	mineralisation with respect to	intersection lengths are a close
	the drill hole angle is known, its	approximation of true width.
	nature should be reported.
	 If it is not known and only the
	down hole lengths are reported,
	there should be a clear
	statement to this effect (eg
	‘down hole length, true width
	_not known’). _
*Diagrams*	 Appropriate maps and sections	 See Figures 1 to 2 and Table 1.
	(with scales) and tabulations of
	intercepts should be included for
	any significant discovery being
	reported These should include,
	but not be limited to a plan view
	of drill hole collar locations and
	appropriate sectional views.
*Balanced reporting*	 Where comprehensive reporting	 All significant drilling and trench
	of all Exploration Results is not	exploration results reported
		12

Criteria	JORC Code explanation	Commentary
	practicable, representative
	reporting of both low and high
	grades and/or widths should be
	practiced to avoid misleading
	reporting of Exploration Results.
*Other substantive*	 Other exploration data, if	 Mineragraphy on SWB and Trench 7
*exploration data*	meaningful and material, should	samples indicates that gold is “free” or
	be reported including (but not	associated with sulphide minerals
	limited to): geological	indicating that there is no significant
	observations; geophysical	supergene enrichment
	survey results; geochemical	 Metallurgical leaching results (release,
	survey results; bulk samples –	24/01/2014) for drillcore from both South
	size and method of treatment;	West Breccia resources on the Lobo
	metallurgical test results; bulk	Prospect and the oxide and transitional
	density, groundwater,	oxide resources at Kay Tanda on the
	geotechnical and rock	Archangel Prospect, indicate that a fine
	characteristics; potential	grind of the resource material to 37 micron
	deleterious or contaminating	and 75 micron respectively exhibit high
	substances.	total gold recoveries of up to 97% (48
		hours leaching).
*Further work*	 The nature and scale of planned	 Drilling to be continued to test identified
	further work (eg tests for lateral	mineralised zones on a 20m x 20m spacing
	extensions or depth extensions	as detailed in the release.
	or large-scale step-out drilling).
	 Diagrams clearly highlighting	 See Figures 1 to 2
	the areas of possible extensions,
	including the main geological
	interpretations and future
	drilling areas, provided this
	information is not commercially
	sensitive.

ASX code: RMX ABN 40 119568106

COMPANY DIRECTORS Neil Warburton Non-Executive Chairman Jon Dugdale Managing Director

CONTACT DETAILS RED MOUNTAIN MINING LTD Head Office Unit 1, 2 Richardson Street West Perth Western Australia 6005 www.redmm.com.au [email protected]

Michael Wolley Non-Executive Director Shannon Coates Company Secretary

AI assistant

RED MOUNTAIN MINING LIMITED Capital/Financing Update 2014

65719_rns_2014-09-16_8ef5b41e-7959-44a0-8753-e4f3884dd130.pdf

RED MOUNTAIN INTERSECTS 12 METRE BRECCIA LODE AT CAMO

About the Camo Target:

About the Lobo Prospect

About Red Mountain Mining Limited and the Batangas Gold Project

Cautionary Statement

Competent Person Statement

Forward Looking Statements

APPENDIX 1: SAMPLING TECHNIQUES AND DATA

APPENDIX 2: REPORTING OF EXPLORATION RESULTS

AI assistant

RED MOUNTAIN MINING LIMITED — Capital/Financing Update 2014

65719_rns_2014-09-16_8ef5b41e-7959-44a0-8753-e4f3884dd130.pdf

RED MOUNTAIN INTERSECTS 12 METRE BRECCIA LODE AT CAMO

About the Camo Target:

About the Lobo Prospect

About Red Mountain Mining Limited and the Batangas Gold Project

Cautionary Statement

Competent Person Statement

Forward Looking Statements

APPENDIX 1: SAMPLING TECHNIQUES AND DATA

APPENDIX 2: REPORTING OF EXPLORATION RESULTS

More from RED MOUNTAIN MINING LIMITED

RED MOUNTAIN MINING LIMITED Capital/Financing Update 2014